Nestlé Pays $1.4 Billion for Rights to Valeant Products

Swiss Food Giant Aims to Bolster its New Skin-Care Unit

ZURICH—Nestlé SA will pay $1.4 billion for rights to a handful of skin-care products from Valeant Pharmaceuticals Inc. in a move that will bolster the Swiss food giant's newly established dermatology unit.

In a statement Wednesday, Vevey-based Nestlé said it was acquiring the U.S. and Canadian commercial rights to five aesthetic dermatology products owned by Valeant. Nestlé had previously sold the brands outside of North America....